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Until about a month ago, the float of B Digital, Seven Network's mobile, call centre and e-commerce arm, would have had plenty of blue-sky potential. Now, that potential might be better called pie in the sky.

The company operates the B Clear and Simple brand mobile telephony service, offering phones and call access. It has formed a joint venture in South Africa, which holds a service provider agreement with MTN Group. In April, a service provider agreement was signed with Verizon Wireless, a joint venture between Bell Atlantic and Vodafone AirTouch, which is shaping up to be one of the...

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